INSURANCE INDUSTRY NEWS
Conning Study Offers Insights On GenAI
The insurance industry continues to adapt and find opportunities for technological transformation utilizing Generative AI. Developing and piloting these technologies will require significant investments in time and resources. This will apply upward pressure on expense ratios over the near-term with Generative AI driving the shifts in the type of staff and positions needed to run a modern insurance company.
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VIU By HUB Partners With Mile Auto
VIU by HUB, an omnichannel insurance brokerage platform, is pleased to announce a partnership with Mile Auto, a pay-per-mile auto insurance company, to bring an innovative solution to VIU enabling customers to access affordable car insurance based on how much they drive.
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Innovative Approach To Precision Language Models Sets New Industry Standards
Quantifind, the leader in AI-powered Risk Intelligence, has published a new white paper titled "Precision LLMs in Risk Assessment: Redefining Decision-Making with Large Language Models" which sheds light on the transformative potential of Large Language Models (LLMs) in revolutionizing risk management strategies across various industries.
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How Insurance Companies Can Support The New Generation Of Workforce
Vymo and LIMRA have released a report which provides perspectives to help insurance companies understand how Millennials and Gen-Zs want to live and work in order to support the younger cohort joining the workforce.
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Climate-Tech Startups Form Real-Estate Alliance
ClimateCheck and ClimateFirst are pleased to announce a first-of-its-kind partnership to enable commercial real-estate stakeholders to assess financial risk due to climate change. The new approach features analysis to determine the value of assets that could be damaged or destroyed as a result of climate-driven disaster and recommends property resilience measures.
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Ives Insurance Brokers Acquires All-Risks Insurance Brokers Essex Branch
Ives Insurance Brokers Ltd., a leading insurance provider and Navacord-owned brokerage, is pleased to announce the acquisition of the Essex branch of All-Risks Insurance Brokers Ltd., effective March 1st.
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DKI Canada Network Expands In B.C.
DKI Canada is pleased to announce the expansion of DKI - Elite with its new location in Prince George, British Columbia.
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Western Canada Deep Freeze Insured Damage Total Revealed
Mar. 11, 2024) – A deep freeze in Western Canada in January is estimated to have caused over CAD 180 million in insured damage, according to initial estimates from CatIQ.
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Home Insurance Rates Increase In 2024
According to MyChoice, a leading insurance comparison website, Canadians should brace for increased home insurance prices in 2024. The high inflation witnessed in 2023 is a precursor to the anticipated developments this year, as high claims costs, soaring repair/replacement expenses and increased climate-related disasters have set the stage for this inevitable price recalibration.
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Climate Adaptation Clearly Reflected In Housing & Climate Task Force Blueprint
Climate Proof Canada has issued a statement in response to the Housing & Climate Task Force's release of its Blueprint for More and Better Housing.
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